- Crypto trader Martin Folb believes the CFTC seeks information on subscriber behavior from Coinbase (NASDAQ:COIN) to “prove something” about the Bybit exchange.
- The crypto trader believes CFTC is going through Coinbase to gather Bybit users’ data.
- Folb noted that what the CFTC is doing through Coinbase is unconstitutional.
Crypto trader Martin Folb, commonly known as MartyParty, shared that the Commodity Futures Trading Commission (CFTC) seeks information on subscriber behavior to “prove something” about the Bybit crypto exchange. He claimed that the regulator is going through Coinbase to gather users’ data that could support its case against Bybit, a non-U.S.-based crypto exchange.
Update on @Bybit_Official situation: Appears all @Bybit_Official users have received an email re: The @CFTC case against @Bybit_Official"No action is required from you, but Coinbase may respond to the Subpoena unless served before November 30, 2023 with a motion to quash or… pic.twitter.com/k0s4S4Hx0L
— MartyParty (@martypartymusic) November 28, 2023
Folb explained via a recent post on X (formerly Twitter) that the CFTC is adopting an indirect process to pursue its objective. …
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